♪ kurt: coming up in the next hour, wework rework. the company finally puts a pause on its ipo plan. tesla delivery drink. is it -- dream. is it realistic or a total distraction? we discussed how could this -- this could be a divergent from revenue numbers.

why tech companies in the united states are hoping president trump's political problem could be there again. it is official. wework is pulling the plug on its ipo, at least temporarily. new ceos -- co-ceos of the company want to focus on its core business before going public, which they still plan to do at some point in the future. wework has been burning through cash. it is now planning thousands of job cuts and will put several of its businesses for sale. ellen, i want to start with you. this story has been evolving dramatically over the last few weeks. what is the latest from this morning? it is official -- >> it is official. the ipo will be put on hold. that confirms a lot of the reporting we have had in the last week or two, which is that the ipo is unlikely to happen in 2019, likely to be pushed until next year. they are going to be spending

the next few months with these new co-ceos, trying to show wall street, you know, we are going to cut back on expenses. it is no longer going to be a company with this wide variety of businesses alongside its main, core business, which is renting out office space. there one specific moment that gave officials the idea that they should pull back on this idea? clear it seems pretty from the time last tuesday when the ceo and cofounder southbound -- sat down. who had these leaders experience at other companies outside taking over. immediately, people, including myself, were thinking, how are they going to continue with their plan to finish the ipo in 2019? there is just so much to get done. there has been such a change at the company and they were already talking from that first date about new leadership and

difficult decisions they were going to have to make for the company to move forward. i'm not surprised to see they are putting unofficial -- an pause -- official pause on their plan. kurt: there were some other elements of this ipo, there was some credit financing that was supposed to come when this ipo happened. can you give us an idea of where wework's financials are right now? >> this has been a black eye for wework and the ipo market putting a white flag, showing that investors are not going to buy. now, they will have to go back from a financing perspective, figuring out sort of next steps here, a fork in the road situation. you talk about the first thing, costs, and to cut ultimately, really put this car

back in the body shop until it comes out healthier for an ipo later this year, maybe next year. you think about best case, into 2020. urt: i know softbank is heavily involved in this company. can you give us an idea of what their involvement is? what is softbank's role going to be? >> they are going to have to roll up their sleeves. it's going to be hands on deck, and terms of not just the financing piece, but just business operations. especially, when you look at a lot of employees have joined we and now that is temporarily off the table. they are going to need to make sure that the house is in order, look at the business model. you started to see it with uber and lyft, and now you have seen it with wework and others,

peloton, path to profitability. it is a fork in the road situation for ipo's. to be thetinues poster child for what ultimately is investors saying no more, in terms of these business models that lack profitability, at least a path. kurt: dan mentioned path to profitability. you mentioned tough decisions that need to be made. what happens next at wework? >> we have noted some of the stuff they have started to do. the new company ceo says the company wants to sell the $60 million gold stream jet bought last year. that was something that obviously got a lot of headlines, $60 million. they are going to need more than that to keep going. they have discussed selling several side businesses, including meet up, managed by q,

and conductor. seems like the company will also cut maybe in the thousands of jobs. they currently have about 12,000 or 12,500 employees, some pretty serious. i think they -- so pretty serious. i think they are looking around to see where they can make changes. there might be trimming in the main business as well. kurt: you mentioned a job cuts. what does this do for morale? the ceo is gone and their jobs may be on the line. what is the morale at the company? how do you move past something like this? ellen: i have talked to a few people that are there. it is tough times. you cannot imagine how difficult it is to know that these things are coming ahead in your company and not knowing exactly where. just going through the change of the last six months -- as you said -- they really thought the company was going full speed

ahead towards an ipo. they are reassessing how much they think their stock is worth. they are worried about their job. i think it is going to be really difficult and i feel for them. for: what does this mean the broader ipo market right now when you see wework have these kinds of struggles? what do you take away from this from a big picture standpoint? has been acture, it black eye, no doubt, for the broader market. it also shows that the companies with the strong business models, profitability, there is an appetite for those names. er thats more frothi continue to have issues, investors in this market, those are not names that are going to get through, especially in valuations that are not down rounds from when they went private.

singlet, we are not going to -- saying look, we are not going to take some of those private valuations and we are going to command valuations that we feel comfortable with. ultimately, i think a line in the sand was drawn here with rework -- wework. i think we will see the ramifications for months and years to come. kurt: i assume that means we will see you both here in the weeks to come. dan ives is sticking with us. after a tumultuous year, softbank group is back where it started. in february, the japanese company gave its company a shot in the arm by announcing a buyback. the investments have dragged the share price down below where it was on february 6. softbank has been hurt by uber's ork's valuation and

disastrous attempt to go public. thatmusk tells staff 100,000 deliveries is doable this quarter. we discussed the numbers next. if you like bloomberg news, check us out on the radio. you can listen to us on the bloomberg gap, bloomberg -- app, bloomberg.com, and on sirius xm in the u.s.. this is bloomberg. ♪

♪ can: ken tesla possibly -- tesla possibly test another vehicle delivery record? elon musk seems to think so. and less flattering trend would be filing revenue. a revenue drop would be a downer for elon musk. they have a shot to deliver more

than 100,000 electric vehicles this quarter. to discuss, we are joined by dan a whole -- dana holt and dan ives. we are hearing possibly record sales and yet a revenue decline. how does that work? >> tesla sells the model three, model s, and model x. as the three has ramped up and is taking the world by storm, the sales of the s and x are following. ing.average -- falluin the average price is getting lower. kurt: tell us about the email. >> it was an mail saying -- email saying they have a shot at a record quarter of 100,000 deliveries. today, there was some chatter that they are close to it, but there might be some glitches so

-- logistical issues. the number to be is 90 5000, 3 -- 95,356. kurt: obviously, no company wants to report a revenue decline, but it seems like that might be particularly harmful for tesla. why do you think that might be? dan: it is a tale of two cities right now. you have to give them credit in terms of what they are saying 1q to toous get their 100,000 units. can they show profitability? tesla is a glass half empty view in terms of the street. kurt: i feel like we have talked about tesla for a long time as kind of having this vision for

getting these electric cars into as many drivers as possible. those you kind of weigh when they are selling the cheaper model. isn't that kind of the goal they have had all along? sh th goal is mass adoption ofure. -- sure. the goal is mass adoption of electric vehicles. they have yet to show profitability. year is down 28% this because profitability seems to be increasingly elusive. kurt: dan mentioned that 28% drop. what do you think tesla has to do to get things back on the right track here? dan: first, it is profitability. talkneed to show not just the talk, but walk the walk with profitability going into next year. they also need to show sustainable demand in the u.s. they need to show it sustainably into 2020.

then, fundamentally, it is really, there are a lot of sideshows going on. it is more of a laser focus. to navigatesk through this near-term period. until they see that, this is going to be a range bound stock. right now, the bulls are not necessarily popping the champagne yet until they see what the profitability looks like in terms of earnings. so manyn, there were tech companies that preached growth over profit. i realize they are different business models. when you look at google, facebook, and amazon, which for so long have been able to sustain business by playing that growth card. is that something that tesla could do a better job of doing, even if they are not going to reach profitability? could they play the growth up more than they are now? dan: the difference is, these

capex models. show they need to sustainable profitability. otherwise, it is joyce going to be -- it is just going to be a capital read every 18-24 months. for tesla, this has definitely been a step in the right direction, but it is one chapter in the book that continues to really be something that has not necessarily turned the corner in terms of profitability. that is why investors treat them differently. there is only one jeff bezos. when you look at everything elon musk has done, massively impressive, but ultimately as a stock, it needs to be about profitability. that is the key to the valuation. kurt: we talked about elon and that email -- in that email. he does a decent job of trying to instill confidence in the

company. if they don't hit that number that we mentioned earlier, what should we expect from tesla in terms of employee morale? >> i'm sure they will be close and there will be some speculation as far as how many vehicles are in transit. they will talk about logistics challenges. this is the first year they started delivering the model 32 countries like our stroll yet -- model three to countries like australia. people are tiring of this end-of-the-year push. kurt: we will be looking for that number. dana hull, thank you for joining us. dan is sticking with us yet again. also sticking with elon musk. he continues to have his eyes on mars. he has outlined plans for starship, the next generation rocket his space company hopes to use to eventually take humans

to the red planet. coming up, antitrust overload. the u.s. justice department is launching its own facebook probe as the social network is already the focus of a federal trade commission investigation. we will discuss next. "bloomberg technology" is livestreaming on twitter. be sure to follow our global breaking news network at tictoc on twitter. this is bloomberg. ♪

♪ continues to be in the spotlight on capitol hill. the u.s. federal trade commission is already investigating the social media giant, but it won't stop there. theiam barr is pushing department of justice to start an investigation of its own. will another antitrust probe make a difference in the way that facebook operates? with dan ives us is -- we

are still with dan ives. i believe there are now four separate antitrust investigations into facebook. what does the doj offer something different than any of these others? >> in a certain sense, another investigation can be marginal. you will see things like these sort of me too subpoenas. say, send us all of these documents and privacy claims, anything like that. in a certain way, it is marginal, but in another way, it is that much more of a distraction. it can certainly pursue a different line of inquiry, which would be another set of the battle tools that facebook would need to face if doj goes by them. kurt: you had a note recently and said that breaking up some of these big tech companies might be a tough argument to

make. i'm curious why you think that might be. dan: i go back to, even when we covered microsoft 20 years ago, keepsms of that really its keep. do they prove any sort of anti-competitive behavior? that will be extremely difficult to prove. we do believe this is something for facebook, google, and ultimately, i think apple is next. fine,going to be more maybe some tweaks to the business models rather than pure antitrust where they call for a breaking up of the business models. kurt: what is the more likely outcome of this if it is not an actual breakup? do you think they go after facebook's advertising business, for example? theseere other parts of tech companies that might be more vulnerable than splitting

them up? dan: they will look at the unified messaging platform, especially on facebook, instagram, whatsapp's side. facebook is aggressively going after some of their strategic plans in terms of the next generation messaging platform. right now, a lot of these companies, from amazon, facebook, google, even apple, they are learning from some of the mistakes that you go back to microsoft and gates, they were on the defensive when antitrust was issued and doj was going after them. that really hurt them for many years to come. i think right now, these companies are continuing to go on the offensive. they are going to significantly need the legal and other issues that are going to be distractions, they need to contain those. i expect them on apple to look at the app store. we are going to look out 18-24

months, the bark is a lot worse than the bite. kurt: facebook of course is not really, you know, holding back. they are pushing into new industries, including cryptocurrency with libra. do you think any of that might pose challenges for them on the antitrust front? >> ostensibly, you have to think their lawyers have looked at this really closely and talk to the top leadership and said, we are under antitrust scrutiny, we have to do these absolutely as carefully as possible. if lawyers were always right, there never would be any of these cases. i think it is the kind of thing that the ftc, the doj, and states will be looking at as it goes forward. i think particularly on facebook, the acquisition strategy. how did you get so big? buying instagram, buying what's up -- whatsapp. these are key things investigators are looking at.

it is going to be a part of what they are looking at. i think dan is right. antitrust has not necessarily shown it has an appetite to go after these kinds of companies. that does not mean it can't prove a very damaging distraction for them. en what has the offensive push been like for these tech companies? how has that been different from what you have seen them doing in d.c. in years past? ben: you have a whole different kind of set of defensive. facebook is what it always does. it likes to say that it is cooperating and finding everybody.or if you look at a series of open record requests that we got here focused on cambridge analytica see veryyou aggressive lawyering. they are talking about violations of the eighth amendment and 14th amendment, due process, those sorts of

things. you also see very slowly but surely, defenders in various political camps starting to rise up and echo some of these talking points. you see people on the democratic and republican side starting to come down on these companies, so the pressure is ramping up. kurt: thank you both for being here. brody. dan ives and ben thank you for joining us. speaking of washington, all eyes are on the capital, may be on the impeachment inquiry of president trump. could this be what keeps antitrust regulators off big tech's back? we will discuss next. this is bloomberg. ♪

♪ kurt: this is "bloomberg technology." i'm kurt wegner in san francisco. the u.s. department of justice federal communications -- justice, federal communications, commission have all been keeping an eye on big tech. there are possible probes and inquiries into apple, facebook, amazon, and google. they have also been calls from presidential hopefuls like bernie sanders and elizabeth warren to break up some of these companies. but now there is an impeachment inquiry into president trump, big tech breathe a sigh of relief? sally served as an assistant attorney general in the

antitrust bureau. thank you both for being here. eric, i want to start with you. you wrote a great column on this last week. give me a sense, do you think all of the distraction around this impeachment discussion could actually be a benefit to these tech companies? eric: i think in the short term, certainly in terms of the media environment, the fact that antitrust has become a political conversation and that attention has animated a lot more action than we have seen in years, so when the story turns to impeachment, there is a degree to which facebook, google, amazon can take a breath and ir strategy.he certainly, for this moment, impeachment has sucked a lot of the oxygen out of the room. kurt: sally, what do you think? do you think this is a lot of

distraction in the press and on the surface, or do you think this could help behind the scenes? sally: i think it might affect the press, the coverage, and the media, but i don't think it will help the actual investigations. at this point, they are really in the hands of the antitrust worker bees, staff attorneys who are working diligently. the political decisions were already made. those were the decisions to investigate. now we are in the process of document requests, document review, depositions. all that stuff takes time, and i don't think the impeachment is going to distract from the work that the attorneys are doing on the ground level. kurt: you know, there's a bunch of different investigations. the attorneyously general, the doj, the fcc. are any of those impacted more by the impeachment than others? bely: i would say doj would the most impacted by the impeachment process, just because there have been some

implications the attorney general, william barr, could get wrapped up in that whole mess. the doj potentially, but at the same time, we have a whole antitrust division and career lawyers who are already working away. in terms of if there is any affect, the agency that would be most affected is doj. i don't think state ag's or the fcc will feel any impact. kurt: we have seen this play out, although it has been a while with big tech companies like microsoft, i am curious, what does this do from a distraction standpoint? is there anything they can do to make sure they are not totally derailed by something like this? eric: it seems like they need to get their message right. certainly, in the media ecosystem, they just keep getting hit, one thing after another, whether it is apple's handling of its app store, you know, there are new stories one after another of where these companies have antitrust vulnerabilities.

and so i think getting to a place where you have a more positive message, if that's possible, would be the hope. and so this is a moment where they can sort of collect themselves. but i totally agree that the actual investigation is happening and the fact that they got in a situation where they are such a target is now somewhat out of their hands. kurt: eric, you mentioned the app store. we were talking before the break about the advertising opportunities facebook and google have. i wonder, is there any particular market or business line you think might be the most vulnerable right now? eric: elizabeth warren put out a -- elizabeth warren has been driving this conversation, and put out a framework back in march which really focuses on areas where tech companies compete with people on their platforms. if you are google selling ads or amazon selling products, those are areas where she is focused

on. but i think there is so much power in the technology industry, and now that it's a bipartisan issue where republicans and democrats are game to go after the tech companies, you know, there are a lot of vulnerable areas here. kurt: sally, i'm wondering, for those who have not seen this play out as often as others, what are the next steps that people should expect? what is the government going to be doing that tech companies are going to be seeing in the near future? sally: yeah, so the next steps are really reviewing document requests, subpoenas to the tech giants, particularly the 50 state a.g.'s who joined together to investigate google. they serve cid's. nine are serving cid's to facebook. we have seen the house judiciary subcommittee issued extensive document requests. right now, it's going to be know, producing

those requests -- sorry -- producing those documents that are responding to those requests, and it's going to be millions of documents. it's going to take time for attorneys and all of these organizations and agencies to review it and figure out where are the strongest claims that can be brought, and how can they build a case or cases? kurt: eric, i want to end with you hear. -- here. we talk a lot about facebook and what they continue to push forward on things. we've talked about cryptocurrency, we've seen the push for in-home devices with cameras and speakers. do you have any sense that the tech industry is slowing down based on these investigations, or is this just water under the bridge for them? eric: facebook is a unique example where mark zuckerberg has such control over that company and has set the direction despite naysayers. he has been willing to say we can't stop, we won't stop. that's really been that company. i would expect something like an apple or amazon to have to read the room and decide how to

same and -- seem and appear more cooperative to these impending agencies coming at them. i do think facebook has been a bit anomalous here. kurt: there will be a lot more coming on that, i'm sure. sally hubbard of the open market s institute and bloomberg's eric newcomer, thank you both for joining us. speaking of government and tech, apple has been denied a reprieve from tariffs for parts for the mac pro computer. this comes after the company announced it was keeping some assembly operations in the u.s. president trump took to twitter to celebrate that last bit, saying, "great news." "apple is building the new mac pro in texas. this means hundreds of jobs across the country. congratulations to the apple team and their workers." joining us is executive editor tom giles.

hi, tom. i am curious why the government would reprieve some of these taxes for apple products, a few alsrieve rules -- repriev were given last week, and now saying no to these new products. >> apple is saying we need you to exempt us from tariffs on these 15 components that go into the mac pro, this high-end computer that apple has been putting together in texas since 2013. it turns out the government said in these five cases, you haven't made a case. you haven't proven to us that this will inflict substantial financial harm on you as a company or words to that effect. and so, they made the case with 10 of these components. they did not with five other ones. of youw, this is a sense win some, you lose some. clearly, this was a victory in

that apple got 10 crossed off the list. those will be exempt from extra charges. apple wants to convey to the government look, we are in texas. we have been there since 2013. we are going to stay there as far as final assembly on this computer thatnd we put together, high-margin computer. this is the government making it sound like they scored a victory and kind of keeping apple stateside. kurt: we saw the president congratulate apple when they decided to keep production in texas. when i see that, it made me think apple might have been expecting this to go in their favor. do you think that the company was expecting that the government would do that? well, apple has made it very clear and they have telegraphed to the government that we might shift production to china for this particular device, which

had not been being produced or final produced in china for several years. they definitely telegraphed that to the government like, don't mess with us too much. and tim cook has dined with the president. there were recent tweets about that. i think the president tweeted out a photo. we are not privy to what their conversations are. when tim cooke has an audience with the president, he's going to take that opportunity to remind him hey, we would like to stay in texas. what can you do to help us do that? help us help you. kurt: not all ceos get dinner with the president, of course. is apple unique in this? is this the kind of thing that is pretty broad in the tech industry? tom: so the government does make exceptions. i think this is the third round talking to my colleague, who is an expert in this area.

he says apple is not necessarily unique. there are other exemptions. he gave another example of another company on certain like paddle boards and things along those lines, or at least oars used in kayaking devices. it's not a complete anomaly, but not everybody gets that. kurt: i'm wondering what you take from this long-term when you think about apple, china. what does this signal coming down the line? >> i think the trade war between the u.s. and china has sent a signal to u.s. companies across the board that it is probably best in the long term not to be overly relying on one particular region, one particular country, particularly one that the u.s. can pick a fight with. kurt: it is a tough fight for sure. thank you. that was tom giles. thanks for joining us. how one workplace productivity platform is looking to keep employees from burning out. that is next. this is bloomberg. ♪

♪ kurt: on wednesday, we learned of dropbox's plan to become a competitor in the growing online marketplace productivity space, a move that puts it in even more direct competition with slack and microsoft. another company in that space is asana. theyer this summer, launched a feature to manage resources in the shifting workspace. of business joins us. chris, thank you for being here. the last time someone from asana

was here at "bloomberg tech," they were talking about notifications and how it can be intrusive in the workday to be constantly getting pinged. tell me how you make a product that is meant to avoid a lot of those issues. >> thanks for having. so, collaboration is giving us at work -- killing us at work. today, knowledge workers spend more time on emails, in status meetings, on messaging apps, and being pinged by coworkers than they do on their actual work. asana helps companies reduce the work about work and spend more time focused on the work that matters. our mission is to help companies and teams work together more effortlessly. kurt: i feel like one of my biggest that i have is that are each doing one particular thing well but nothing that necessarily does everything well. anw do you feel about

all-in-one product? what do you guys offer and are you pushing toward that direction? chris: the way we see it and the way it is going down in the market is every high performing ofmpany needs the three c's collaboration. there are communication tools, email, check, conferencing. conference tools help employees share files and attachments. then there is coordination software. coordination software helps organize teams so that everyone has real-time visibility of who is doing what, when, and why. asana is a recognized leader in this space. we have seen tremendous growth the last couple of years around the coordination problem, helping, you know, reduce the time that people spend reacting to things and allowing them to spend more time on things that matter. kurt: i was going to ask you where you fit in. there are a lot of productivity office workspace services.

slack, microsoft. where does asana fit into the broader ecosystem? the thirdwe are in space, that coordination space. in the second space is content. that's where you see microsoft, dropbox. coordination, the third space, is where we are a recognized leader. kurt: i know at bloomberg, we have offices all around the world. that's tough for time zone. that's tough to coordinate. how do you guys try to solve the problem of more people working from home and fewer people coming into the office? chris: first off, we have really expanded globally. our growth rate has gone up the last couple of years. we are growing faster as we get bigger. we now have nine offices across the world and serving customers in 195 countries. kurt: i cannot let you go before i ask you an ipo question. you raised $50 million about a year ago in a pretty lofty

valuation. slackou -- as you've seen go direct listing, you've seen wework. how has that changed how you go about an ipo? chris: our primary focus is making customers successful in doing right by our customers. almost all of our focus is on product innovation and expansion. that being said, if an ipo or direct listing, you know, might be in our future at some point in time, we see that as another milestone in our mission of making the customer successful and helping us much of the world as possible get the benefits of work management. kurt: thank you so much for joining us. coming up, it's one of the biggest problems our planet faces and technology might have the answer. we find out more about the cures for plastic pollution next. this is bloomberg. ♪ new ♪ --

♪ kurt: microsoft's largest reseller is planning an ipo. they are planning the deal for the fourth quarter. private equity firm kkr owns 25% of the company and intends to keep a significant stake after it goes public. plastic, it's both a versatile product and an ecological nightmare. it's cheap, durable, and it won't rot. that might be great for shopping bags and containers, but it also means it sticks around for hundreds of years. looksoomberg's tom gibson at how technology can help solve that problem. tom: our addiction to plastic is catastrophic. remnants of our products have spread to every corner of the planet. the properties that make plastic so useful, cheap, malleable, durable, also make it damaging.

plastic cannot degrade, so the more we make, the more that ends up in our environment. >> it ends up in landfills or incinerated. >> it pollutes the water we drink, the food we eat, it suffocates wildlife. >> i don't think anybody anticipated the real problems plastics are causing. >> innovative companies around the world are working toward a solution. >> we are producing biodegradable packaging. it takes 6-12 months to decompose, depending on the environment. >> the crop plays a major role in the entire economy.

it is not a staple food crop, but it is produced in vast amounts for animal feed and making things like starch. >> it is easy to grow. you can grow it year-round in a lot of areas of thailand. temperature from -20 to 100 hot food orwith boiling water, we can still use our packaging. it keeps the temperature of the food warmer longer than the other materials. >> the company, universal bio pack, says they make around 100,000 items a month. mainly for hotels and restaurants with environmental concerns. compared to plastic, their products are not as malleable or durable and are at least twice as expensive, but using packaging like this could reduce the amount of single-use plastics we consume.

either these kinds of solutions will have to become cheaper to compete with plastic or consumers will have to make a difficult choice. >> now, our products are more expensive, but definitely is better for the environment. people will have to think differently. right now, if you pay for the plastic, you pay only for the cost of making the plastic. you don't pay the cost of making plastic go away. the plastic stays around for 150 years. ♪ of -- on theers others of the world, a company is working on just that. >> we need to find alternatives to burying our waste. plastic energy creates waste plastic that cannot be recycled today and converts it into usable oils. one of the biggest problems

with plastics is how many different kinds there are. the majority of it cannot actually be recycled. many products use a mix of materials that makes it even harder to recycle. ♪ plastic energy is targeting these problematic plastics using technology called thermal and aerobic conversion. the company heats the plastic to 400 degrees celsius in a system without oxygen. the plastic waste breaks down into an oil similar to petroleum processed in the earth. >> we produce around 700 liters of oil. >> by converting plastic into a base oil, plastic energy is aeating eight burgeoning -- burgeoning substance that can be used in other products. >> some of those oils can be used to make plastic again. they can be used to make commodity fuels. we can keep moving plastic waste through our facility to produce the oils to produce plastic again, and that's a continuing process, it doesn't have a

finite life. >> this circular economy could prevent more being made from fossil fuels in the first place. companies like plastic energy and ubp have different ideas, -- ideas about how to tackle the plastic crisis, but what they share is a vision of the world where our throwaway culture is buried for good. that was bloomberg's tom gibson. fhat does it for this edition o bloomberg.com -- of "bloomberg technology." be sure to follow our global breaking news network at tictoc on twitter. this is bloomberg. ♪

>> this is bloomberg daybreak middle east. morning.tories this new details on the ministrations -- china marks 70 years of the people's republic with the display of military power and economic i. tensions with hong kong continue. aramcoi -- saudi announced plans to pay $75 million dividends. month'svery from last attacks on its infrastructure, and we get the right decision out of australia and